Twitter, user growth below estimates: the title falls by 8.4% at WS

by time news

Twitter, as well as other big techs including Facebook and Google’s Alphabet, it has seen an increase in revenues beyond Wall Street expectations. The first quarter of 2021 closed with a 28% increase in revenues, equal to 1.04 billion dollars, slightly above the 10.3 billion estimated by analysts. The San Francisco-based company disappointed on the daily active user growth front, recording 199 million accounts up 20% year-on-year, but below analysts’ forecasts of 200 million. The data penalized the title, which fell 8.4% in electronic trading after the close of Wall Street. The actions Twitter sank as much as -10% in trading after Wall Street closed as the results fueled concerns that the platform is not growing fast enough in social media, which is rapidly evolving. Still, the American giant called the results “a solid start” for the year, with growth in advertising revenues. The decline in the share price is also affected by the estimates for the next quarter which disappoint expectations.

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